As an analyst with over two decades of experience in the financial markets, I find Captain Faibik’s and Willy Woo’s insights on Bitcoin’s future trajectory particularly intriguing. Both experts have demonstrated a keen understanding of the cryptocurrency market dynamics.
The cryptocurrency Bitcoin is still experiencing market turbulence, as bullish forces gradually gain traction. However, overcoming significant obstacles at crucial resistance points remains difficult.
$90,000 Is In Play, But This First
Capt. Faibik, a well-known cryptocurrency analyst, has expressed optimism about Bitcoin’s future price. He predicts that if Bitcoin manages to regain the crucial $60,000 mark, it could potentially reach $68,000 by the end of this month.
In simpler terms, Faibik underlined the importance of Bitcoin’s daily closing price surpassing $60,000 as a significant step in reaching potential record-breaking levels by December.
Additionally, Faibik pointed out the possibility of a breakout in the Broadening Wedge pattern, potentially propelling Bitcoin’s value to anywhere from $88,000 to $90,000 before the conclusion of Q4.
As an analyst, I find myself closely watching the Broadening Wedge pattern that has emerged in the Bitcoin market. This pattern, when broken to the upside, historically suggests heightened volatility and potentially signals a significant bullish run. If Faibik’s prediction holds true, this could be the marker for the next major surge in Bitcoin’s price.
$BTC Bulls are once again building Momentum , but Reclaiming the Crucial $60k level is key.
If the daily candle breaks above $60,000, it may have the potential to reach around $68,000 by the month’s end.
In Q4, I’m Expecting a Broadening Wedge Breakout to the upside, and Bitcoin could…
— Captain Faibik (@CryptoFaibik) September 13, 2024
Short To Macro Term Outlook On Bitcoin
Known cryptocurrency expert Willy Woo recently offered insights into the current market situation, discussing his expectations for Bitcoin’s growth over both the short-term and long-term horizon.
According to Woo, even though Bitcoin isn’t officially in a bear market, it’s currently experiencing a “re-accumulation” stage – a time when the asset is gathering strength and potentially preparing for a surge towards record-breaking highs.
According to Woo’s analysis, there might be an upward trend developing in the next 1-3 weeks. However, he notes that it may take additional time for Bitcoin to surpass its previous record highs.
Looking ahead in the mid-term, Woo noted that following the halving event in April, Bitcoin’s market indicators have leaned bearish due to increased supply and reduced demand. Lately, there have been hints of a possible reversal, but these trends are yet to be fully confirmed. Therefore, it may take additional time for Bitcoin to reach another record high price.
Additionally, economic factors at large may have a substantial impact on the fluctuations in Bitcoin’s value. Woo highlighted low-interest bonds as a possible warning sign for conventional financial systems.
Previously observed instances, like the 2020 COVID-19 market downturn and the 2008 financial catastrophe, have shown a pattern where drops in bond rates occurred before these crashes. Subsequently, these downturns were followed by upswings fueled by increased liquidity across all investment sectors, including Bitcoin.
If a similar trend continues, Bitcoin might experience a wider surge in trading volume (liquidity rally), although it’s important to note that there’s still a possibility of temporary price drops in the near future.
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2024-09-14 07:16